by Peter Madrid | Jan 8, 2019 | News & Updates
PHOENIX, ARIZONA (January 8, 2019) – NAI Horizon kicks off 2019 by adding to its team of experienced professionals with the hiring of Joan Krueger, former Vice Mayor of Gilbert, Arizona.
Krueger will focus on office, retail, light industrial, and land in the vibrant Southeast Valley. She brings experience working in local government after spending four years on the Gilbert Town Council including a year as Vice Mayor; and six years with the Gilbert Planning Commission.
Krueger joins NAI Horizon after four years at Bliss Realty and Investments. Prior to that she worked at JHA Properties and REMAX Commercial. For more than 30 years Krueger worked in the tech sector in international business development.
“I am delighted that we are able to add Joan to our NAI team,” said Terry Martin-Denning, Principal and CEO of NAI Horizon. “Her unique and diverse background combined with her relationships in the East Valley make her a great fit.”
A native of Wisconsin, Krueger earned a Bachelor of Arts in English from Arizona State University. She also attended the University of Wisconsin-Eau Claire.
A resident of Gilbert, Arizona, she is a member of the Gilbert Sister Cities Board of Directors; former member, Fresh Start Women’s Resource Center EV/Positive Paths Board of Directors; and member, Central Arizona CCIM Chapter.
by Peter Madrid | Jan 8, 2019 | News & Updates
PHOENIX, ARIZONA (January 8, 2019) – The 12th Annual IREM-CCIM Economic Forecast, the premiere real estate look-ahead event, this year features one of the Valley’s top economic gurus, an award-winning zoning attorney, and panels featuring the industry’s top experts.
The event is scheduled for Thursday, January 24, at the Arizona Biltmore, 2400 E. Missouri Ave., Phoenix. Registration and breakfast begin at 7 a.m. The program runs from 7:45 a.m. to 12:30 p.m. Registration is $89 for IREM and CCIM members; $99 for non-members. Cost after January 18 and at the door is $109.
The recipient of this year’s Impact Award is Grady Gammage Jr., a real estate and zoning attorney and founder of Gammage & Burnham P.L.C. Presenting the award will be long-time Valley businessman Jerry Colangelo of JDM Partners.
IREM and CCIM speakers include (respectively) Cheryl Gray, President-Elect of IREM, QuadReal Property Group; and Nick Miner, CCIM, CCIM Education/Ward Center for Real Estate, Orion Investments.
This year’s keynote speaker is Elliott D. Pollack, is CEO of Elliott D. Pollack and Company, an economic and real estate consulting firm in Scottsdale.
Pollack has degrees from Boston University and the University of Southern California. He has been a practicing economist for 45 years. For the past 30 years he has been president of the economic and real estate consulting firm that bears his name.
Through the years he has held many professional roles including student, teacher, author, peer reviewer, consultant, expert for media and court purposes and board member. He has taught economics and has written more than a thousand articles over the years. Pollack’s job has been to help clarify how current and future economic conditions fit into the decision process, as well as to explain how past decisions relate to the present situation.
This year’s industry panels:
>> The office panel features moderator Andrew Cheney, CCIM, Lee & Associates; John DiVall, Ryan Companies US; Barry Gable, CBRE; Scott Maxwell, Cresa; and Kate Morris CBRE.
>> The multifamily panel features moderator Libby Ekre, CPM, MEB Management Services; Asher Gunter, CBRE; Chapin Bell, P.B. Bell; and Nicole Wray, Greystar.
>> The retail panel features moderator Greg Valladao, Cushman & Wakefield; Chris Hake, Thompson Thrift; Steve Julius, CBRE; Chuck Wells, Kidder Mathews; and Kalen Rickards, Western Retail Advisors.
>> The industrial panel features moderator Paul Komadina, CBRE; Steve Larsen, JLL; Chris Toci, Cushman & Wakefield; Don MacWilliams, Colliers; and Megan Creecy-Herman, Prologis.
The event is co-sponsored by the Central Arizona chapter of CCIM (Certified Commercial Investment Member), commercial real estate’s global standard for professional achievement; and the Greater Phoenix Chapter of IREM (Institute of Real Estate Management), which comprises more than 280 professional commercial and residential real estate managers.
by Peter Madrid | Jan 3, 2019 | News & Updates
PHOENIX, ARIZ. (January 3, 2019) – Opportunity zones, created by the Tax Cuts and Jobs Act as a way for investors to take advantage of a tax reduction and invest in local communities, is the topic of AZCREW’s first luncheon of 2019.
AZCREW is the leading organization for senior-level executive women in the Metro Phoenix commercial real estate field.
Guest speakers for the January 15 event at the Phoenix Country Club, 2901 N. 7th St., are Christine Mackay with the City of Phoenix and Byron Sarhangian with Snell & Wilmer.
Arizona had 168 opportunity zones approved at the federal level, the most allowed by the law. Notable areas that were designated include much of downtown Phoenix, areas around Sky Harbor International Airport, Mesa, and Old Town Scottsdale. According to the law creating the opportunity zones, if investors keep their money in the fund for at least 10 years, there are no taxes on what was earned from the investment, only on the original capital gain used to invest in the fund.
The money must be invested within 180 days for it to be eligible. Investors can re-invest capital gains realized from a sale of property, stock, or business to defer paying taxes.
Mackay joined the City of Phoenix as Community and Economic Development Director Director in August, 2014. She was recruited to lead the Community & Economic Development Department which includes the Business Development Team, Business Retention and Expansion, Small Business and Entrepreneurial efforts, Downtown Development, International, Retail and Workforce Development.
During her first year, Midtown Phoenix, once a struggling office employment core, experienced more than 2 million square feet absorption which included Banner Health’s relocation of its headquarters in 320,000 SF. During the past five years, she has helped locate or expand more than 180 companies into the Valley.
Sarhangian is based in Snell & Wilmer’s Phoenix office where he serves as Co-Chair of the firm’s Real Estate Practice Group and Opportunity Zone Industry Group. His practice is concentrated in real estate and business transactions which include purchase and sale transactions, leasing, financing and brokerage matters.
Sarhangian advises large and small corporate clients in corporate real estate matters throughout the U.S. His practice also involves drafting and negotiating construction agreements for owners, lenders, general contractors and subcontractors. He is currently representing investors, fund sponsors, and developers with respect to the Opportunity Zone Program. He has worked on property exchange agreements between state entities as well as a variety of zoning and permitting matters.
AZCREW’s January lunch begins with networking at 11:30 a.m. The program starts at 11:45 a.m. Member registration is $45 (early bird by January 4, $40); non-member pre-registration is $65. Lunch is included. Registration ends January 10. Register here.
by Peter Madrid | Dec 27, 2018 | News & Updates
PHOENIX, ARIZONA (December 27, 2018) – NAI Horizon represented 29 Bell, LLC (Bruce Shapiro, Principal), the buyer in the $14 million investment acquisition of Deer Valley Center, a 128,569 SF retail center located at 4123-4273 W. Thunderbird Rd., in Phoenix.
NAI Horizon Senior Vice Presidents Lane Neville and Barbara Lloyd and Associate Logan Crum represented the buyer. NAI Capital, John Manion and Travis Watkins (Irvine, California) represented the seller, Deer Valley Center LLC of Henderson, Nevada (Warren Kellogg, Principal).
“This off-market acquisition is a key strategic move for our client in the expansion of their Arizona retail portfolio and provides excellent upside opportunity to grow property income through capital improvement and strengthening of the overall tenant mix,” Neville said.
Deer Valley Center sits on 11.44 acres. Tenants include Starbucks, Goodwill, Great Clips, and Sally Beauty.
by Peter Madrid | Dec 19, 2018 | News & Updates
PHOENIX, ARIZONA (December 19, 2018) – The Central Arizona chapter of CCIM, commercial real estate’s global standard for professional achievement, has announced its leadership and board for 2019.
Jenette Bennett, CCIM, Kidder Mathews will serve as 2019 President. The leadership group also includes Vice President Belinda Rosthenhausler, Clear Title Agency of Arizona; Treasurer/Secretary Matt Harper, CCIM, NAI Horizon; and Immediate Past President Tracy Altemus, CCIM, Ensemble Real Estate Solutions.
The 2019 board will comprise Bonnie Halley, CCIM, Colliers International; Marina Hammersmith, CCIM, Ensemble Real Estate Solutions; Bobbie Mastracci, CCIM, Phoenix West Commercial; Susan McCall, CCIM, Commercial Property Connect; David Miller, CCIM, Chicago Title Insurance Co.; and Rick Padelford, CCIM, Realty Executives Commercial.
“We are privileged to have a chapter board that is an exceptional group of professionals in commercial real estate and their respective markets in Arizona,” Bennett said. “Our team of volunteers is dedicated to promoting the success and expertise of the commercial real estate community through the CCIM curriculum, speaker programming, and networking events. We are looking forward to a fantastic 2019.”
The CCIM Institute confers the Certified Commercial Investment Member designation. To earn the CCIM designation, commercial real estate professionals must complete more than 160 hours of case-study driven education covering topics such as interest-based negotiation, financial analysis, market analysis, user decision analysis, investment analysis, and ethics in commercial investment real estate.
Candidates must also compile a portfolio demonstrating the depth of their commercial real estate experience and pass a comprehensive examination.
Learn more about CCIM Central Arizona Chapter: centralazccimchapter.com.
by Peter Madrid | Dec 18, 2018 | News & Updates
PHOENIX, ARIZ. (December 18, 2018) — The Arizona chapter of NAIOP, a prominent commercial real estate voice in the state, has framed its guiding principles for the 2019 legislative session around public policies that drive demand for commercial real estate in Metro Phoenix and throughout the state.
“In 2019 we intend to promote legislation that positions our state to be the preferred choice for corporate locations and expansions,” said NAIOP Arizona President and CEO Suzanne Kinney. “We also support public policies that encourage the growth of local businesses through entrepreneurship and new business formation.”
Priority issues for 2019 include:
“NAIOP Arizona will support state legislation to clarify and limit the circumstances under which a city may levy the speculative builder tax,” Kinney said. “The current application of the law lacks certainty for building owners and developers and provides a disincentive for redevelopment.”
As always, NAIOP Arizona will oppose legislation that could increase taxes, fees, and regulations for the commercial real estate industry. When it comes to commercial property taxes, NAIOP will work to retain improvements made in recent years and support further action to make Arizona more economically competitive.
The association will also work to ensure that existing economic development tools remain available for projects that create jobs and contribute to regional economic growth. NAIOP will monitor legislative proposals that could
impact how state universities use their property in real estate development projects and continue to support those projects that benefit the greater community.
Last year, education was a major focus at the state capitol. NAIOP supported Governor Ducey’s 20 by 2020 plan to increase teacher salaries. More work needs to be done to further improve our public schools at the K-12 and
post-secondary levels.
“NAIOP Arizona is working with the broader business community to find sustainable funding solutions that will advance educational outcomes and workforce preparedness without increasing commercial property taxes,” Kinney said. “We will also address current and anticipated future labor shortages in construction and development by supporting Career and Technical Education (CTE) and apprenticeship programs.”
Other issues will include supporting the modernization of transportation infrastructure and working with the Arizona Commerce Authority and other economic development entities to promote private investment in federally-qualified Opportunity Zones.
by Peter Madrid | Dec 18, 2018 | News & Updates
PHOENIX, ARIZONA (December 18, 2018) — BOMA Greater Phoenix, the industry group that advances the commercial real estate industry through advocacy, influence, and knowledge, elected its 2019 officers and board members via electronic vote of its membership.
Robert Vincent, Cordia Capital Management, was elected President. He is joined by Vice President Melissa Scott, Sunbelt Holdings; Governor Susan Engstrom, Main Street Real Estate Advisors; Treasurer Jayme Bartholomew, Development Services of America; and Allied Chair Doug Brown, Maintenance Mart.
“I am looking forward to the challenges that lie ahead in 2019,” Vincent said. “We have some exciting things we are delivering next year. We are revamping the committee structures and producing top quality educational events for our membership. I also believe that we must continue our advocacy for the commercial real estate industry and make our social media platforms more relevant to our members.
“I truly want to leave a lasting imprint with BOMA Greater Phoenix and lead by example. I am truly honored to serve this wonderful organization and the great people that embody it,” Vincent said.
Board members for 2019: Jessica Allen, Lincoln Property Company; Brett Barendrick, Parallel Capital Partners; Marty Brook, Metro Commercial Partners; Patti Brown, The Muller Company; Michael Chadwick, ViaWest Group; Bruce Coomer, Dircks Moving & Logistics; Toni Covington, ABM Parking Services; Chris Vetter, Transcend Security Solutions; and Nate Williams, Pro-Serv Commercial Cleaning.
BOMA Greater Phoenix wrapped up the year on Dec. 12 with a holiday membership event at the Arizona Biltmore where it honored its top volunteers for their efforts in 2018.
by Peter Madrid | Dec 18, 2018 | News & Updates
TEMPE, ARIZONA (December 18, 2018) – The Tucson office of consulting engineering firm Terracon was named 2018 Advancing Women in Transportation (WTS) Employer of the Year, Tucson Chapter.
Each year WTS/Tucson honors firms with its Outstanding Recognition Awards. Terracon’s Tucson office was honored for its strong ties to the transportation industry and its dedication to WTS and other professional organizations in the community.
“We are honored and humbled to have received this award,” said Derek Koller, Terracon’s Tucson Office Manager. “As an office, we have several employees who serve and participate with local non-profits and organizations as board members and in other capacities. We are proud of our collective efforts in the community.”
Criteria met for garnering WTS recognition:
- An organization that has enhanced the transportation industry;
- An organization with an outstanding record of hiring and promoting at all employment levels;
- An organization that encourages students, especially women to enter the transportation field by providing scholarships, grants and/or internship opportunities;
- An organization that supports WTS.
“It’s an honor for our office to receive this recognition and award,” said Bianca Rivera, Administrative Manager I Corporate Service Representative, in Terracon’s Tucson office. “We are fortunate to work for Terracon, an amazing company that encourages our involvement within our community. I’m also honored to be a part of the WTS Tucson Chapter.”
Terracon is an employee-owned consulting engineering firm with more than 4,000 employees providing environmental, facilities, geotechnical, and materials services from more than 140 offices with services available in all 50 states.
Terracon currently ranks 24th on the Engineering News-Record list of Top 500 Design Firms and is ranked No. 1 in Asbestos and Lead Abatement Design.
To learn more about Terracon visit terracon.com/offices/tucson/
by Peter Madrid | Dec 18, 2018 | News & Updates
PHOENIX, ARIZONA (December 18, 2018) – The $4.7 million sale of a freestanding retail building in Glendale and the $1.4 million sale of a retail property in in Mesa highlight recent deals closed by NAI Horizon professionals. The deals were closed by NAI Horizon’s Matt Harper, CCIM, and Jeff Adams, respectively.
Sale Transactions:
Matt Harper, CCIM, negotiated the sale of an 11,878 SF retail property, representing the buyer, AXG COM 1, LLC, for $4.7 million. The property is located at 8280 W. Union Hills, Glendale, AZ. Andrew Harrison with Orion Investment Real Estate represented the seller, CC Fund 1 Union Hills North, LLC.
Jeff Adams negotiated the sale of a 32,000 SF retail property, representing both the seller, Shield of Faith Christian Center, and the buyer, AZIZ, LLC, for $1.4 million. The property is located at 460 S. Country Club Dr., Mesa, AZ.
Kim Kristoff negotiated the sale of an 11,173 SF office property, representing the seller, Sidney M. Rosen, for $1.1 million. The property is located at 4323 N. 12th St., Phoenix, AZ. Kristie Phelps-Miller with DPR Realty represented the buyer, 4323 N. 12th, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon negotiated the sale of a 32,909 SF parcel of land, representing the seller, Phoenix Coffee Real Estate, LLC, for $735,000. The property is located at 12044 N. Cave Creek Rd., Phoenix, AZ. Nick Ault with Colliers International represented the buyer, Avalon Cave Creek, LLC.
Laurel Lewis, Barbara Lloyd and Lane Neville negotiated the sale of a 924 SF office property, representing the seller, Troon, LLC, for $73,920. The property is located at 10031 E. Dynamite Blvd., Scottsdale, AZ. Michael Esquer with No Stress Properties represented the buyer, Raymond Poteet & Beulah I. Poteet.
Laurel Lewis, Barbara Lloyd and Lane Neville negotiated the sale of a 924 SF office property, representing the seller, Troon, LLC, for $69,300. The property is located at 10031 E. Dynamite Blvd., Scottsdale, AZ. Carl Jones Jr. with DeRito Partners Inc. represented the buyer, Desert Valley Skate Co.
Lease Transactions:
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, Queen Creek Fiesta, LLC, in a 180-month retail lease for 5,400 SF at 21545 S. Ellsworth Loop Rd., Queen Creek, AZ. Courtney Auther and Cameron Warren with Phoenix Commercial Advisors represented the tenant, GB Auto Services, Inc.
Isy Sonabend represented the tenant, Elliott Electric Supply, in a 74-month industrial lease for 17,573 SF at 21415 N. 15th Lane, Phoenix, AZ. Mike Haenel with Cushman & Wakefield represented the landlord, Meritex Phoenix, LLC.
Tyler Smith, Joe Pequeno and Troy Giammarco represented the landlord, Bay Pacific Phoenix Corporate Center, LLC, in a 26-month office lease for 14,259 SF at 10040 N. 25th Ave., Phoenix, AZ. James Bayless with CBRE represented the tenant, GC Services Limited Partnership.
Kevin Higgins, Barbara Lloyd and Lane Neville represented the landlord, Bogle Family, LLLP, in a 61-month office lease for 3,023 SF at 7227 N. 16th St., Phoenix, AZ.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, Biscuits Café Inc., in a 47-month retail sublease for 3,249 SF at 2090 N. Dobson Rd., Chandler, AZ.
Tyler Smith represented the landlord, Palm Valley Center Limited Partnership, in a 38-month office lease for 3,089 SF at 1626 N. Litchfield Rd., Goodyear, AZ. Mike McQuaid with Newmark Knight Frank represented the tenant, Dibble & Associates Consulting Engineers, Inc.
Troy Giammarco, Tyler Smith and Joe Pequeno represented the tenant, BRC Development, LLC, in a 64-month retail lease for 2,779 SF at 4700 N. Central Ave., Phoenix, AZ.
Tyler Smith, Joe Pequeno and Troy Giammarco represented the landlord, Eugini Real Estate Investments, LLC, in a 63-month office lease for 2,511 SF at 3770 N. 7th St., Phoenix, AZ. Felix Martinez with Sovrano Realty represented the tenant, The Schmidt Law Group, P.C. and John W. Blischak dba Blischak Schmidt Law Group.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, Los Rios Farms, Inc., in a 60-month retail lease for 3,413 SF at 4705 E. Carefree Highway, Cave Creek, AZ. Bryan Colombik with Catalyst Commercial represented the tenant, Fit Body Boot Camp.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Heroz 1, LLC, in a 60-month retail lease for 1,300 SF at 2055 W. Frye Rd., Chandler, AZ. Matthew Kostrivas with ZDI Realty Advisors represented the landlord, The Landry Trusts.
Laurel Lewis and Dylan Whitwer represented the tenant, Aviant Healthcare, LLC, in a 38-month office lease for 2,914 SF at 2430 W. Ray Rd., Chandler, AZ. Grafton Milne with Menlo Group represented the landlord, MG & SK Investments, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented both the landlord, CP6MF, LLC, and the tenant, Poki and Crepe, LLC, in a retail lease for 1,050 SF at 1840 E. Warner Road, Tempe, AZ.
Laurel Lewis and Dylan Whitwer represented the tenant, Copper Communities Hospice, LLC, in a 39-month office lease for 2,738 SF at 1400 N. Gilbert Rd., Gilbert, AZ. Shane McCormick with Commercial Properties Incorporated represented the landlord, Community Investments, LLC.
Matt Harper, CCIM, represented the tenant, Quayle Home Care, Inc., in a 40-month retail lease for 2,000 Sf at 5153-5155 W. Thunderbird Rd., Glendale, AZ. John P. Reinhardt with Industrial Property Specialists represented the tenant, Quayle Home Care, Inc.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, New Bell Tower, LLC, in a 36-month retail lease for 1,705 SF at 4925 W. Bell Rd., Phoenix, AZ. Aron Sanchez with AMP Real Estate represented the tenant, ReVamp Renovation & Floor Care.
Mark Wilcke represented the tenant, Spotlight Signs and Imaging Solutions, LLC, in a 24-month industrial lease for 3,050 SF at 1310 N. Acacia Dr., Gilbert, AZ. Matt McDougall with Lee & Associates represented the landlord, R.D. Carter, LLC.
Rick Foss represented the landlord, Friedman Anthem, LLC, in a 24-month industrial lease for 1,331 SF at 42302 N. Vision Way, Anthem, AZ.
by Peter Madrid | Dec 12, 2018 | News & Updates
PHOENIX, ARIZONA (December 12, 2018) – NAI Horizon negotiated a long-term lease for Planet Fitness at 8921 N. 7th St., in North Phoenix.
In the past year, NAI Horizon has negotiated long-term leases totaling more than $23 million for Planet Fitness locations across the Valley.
The NAI Horizon retail properties team of Senior Vice Presidents Chris Gerow, Shelby Tworek, Gabe Ortega, and Associate Patrick Anthon represented the tenant, United PF TOM LLC of Austin, Texas, in the Phoenix transaction totaling $2.16 million.
“This was an opportunity in a trade zone that has been overlooked by many other concepts,” Tworek said. “With the remodeling of this shopping center, this will be an exceptional location in a great neighborhood for Planet Fitness.”
The Phoenix Planet Fitness will occupy a vacant building totaling 19,764 square feet that previously housed a Goodwill store.
The landlord, 7th Street & Townley LLC, of Phoenix was represented by Jason Hersker of Capital Asset Management.
